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[John Young <jya@pipeline.com>]

   10-7-96. WaPo:

   "Russian Crime Finds Havens In Caribbean"

      Russian organized crime groups are using unregulated and
      secretive Caribbean banks to launder their illicit
      gains, according to U.S. and Caribbean law enforcement
      officials. One bank that has drawn the scrutiny of U.S.
      authorities is European Union Bank in Antigua. EUB
      describes itself as the first bank on the Internet,
      offering the chance to open accounts, wire money, order
      credit cards or write checks by computer from anywhere
      in the world, 24 hours a day. A U.S. official said, "The
      bank is being investigated for violating U.S. laws with
      open solicitations on the Net, which is at best for tax
      evasion and at worst for money laundering."

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